The future of cyber claims

Cybercrime is impacting individuals at an alarming rate, providing insurers with an opportunity to develop new personal protection options for this market. (Photo: Shutterstock)

Cybercrime is an estimated $600 billion enterprise. While commercial insurers understand the threat posed to companies and provide products in response, individuals are exposed to more risk than ever before.

To address these issues, personal insurers must provide effective coverage and loss prevention services for these new risks. And as new threats emerge — from cybercrime and cryptocurrencies to autonomous driving and other developing technologies — the future of claims is also changing.